20 January 2012
EPC SERVICES AND OPEN BOOK CONTRACT SIGNED GLADSTONE FISHERMAN'S LANDING LNG PROJECT
The Directors of Liquefied Natural Gas Limited (ASX: LNG,
Company) advise that an EPC Services and Open Book Conversion
Contract (EPCSOBC) has been signed in Beijing between China
Huanqiu Contracting & Engineering Corporation (HQC) and the
Company's wholly owned subsidiary Gladstone LNG Pty Ltd, in
relation to the Company's 3 million tonnes per annum LNG
project at Fisherman's Landing, in the Port of Gladstone,
Queensland (LNG Project).
The signing of the EPCSOBC follows the completion of the
Front End Engineering Design (FEED) by HQC and provision of
an estimated EPC Contract price of US$760 million, which is
line with the Company's expectation. The estimated EPC
Contract price is for 1 LNG train, including LNG tank and
related infrastructure (but excluding marine works), with a
design LNG production capacity of ~1.9 million tonnes per
annum and guaranteed LNG production capacity of 1.5 million
tonnes per annum.
Based on the estimated EPC Contract price, the Company's
total estimated development cost, including marine works and
other development and financing costs, remains at ~$1.1
billion for 1 LNG train.
The Company and HQC will now proceed on an open book basis to
complete the detailed engineering design and agree a fixed
lump sum EPC Contract price and bankable EPC Contract, by 30
June 2012. The objective is to have the definitive and
legally binding Fixed Price EPC Contract agreed and ready for
signing on the LNG Project securing gas supply and
progressing to Final Investment Decision (FID). The EPCSOBC
includes an agreed detailed EPC Contract term sheet, which
will form the basis of the final Fixed Price EPC
Contract.
Based on the FEED, and other work, undertaken by HQC to date,
the construction schedule remains unchanged at 30 months from
FID to first LNG production.
The Company's Managing Director, Maurice Brand, said "the
Company was pleased that this important milestone had been
achieved with HQC, its major shareholder and a wholly owned
subsidiary of China National Petroleum Corporation".
"The Company's primary focus remains on securing gas supply
and ensuring the LNG Project is in a position to then quickly
progress to FID and commencement of construction. With the
ongoing support of HQC, the Company is confident of achieving
these objectives", said Mr Brand.
The Company expects to be in a position to update
shareholders on the details of its gas supply plans during
the March 2012 quarter.
Ground Floor, 5 Ord Street, West Perth WA 6005
Telephone: (08) 9366 3700 Facsimile: (08) 9366 3799Email: LNG@LNGLimited.com.au
Web site: www.LNGLimited.com.au
distribué par | Ce noodl a été diffusé par Liquefied Natural Gas Limited et initialement mise en ligne sur le site http://www.lnglimited.com.au. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-19 23:27:21 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
Documents associés | |
EPC Services and Open Book Contract Signed |